09 September 2014

PR1MA to introduce Rent-to-Own scheme for buyers

SEREMBAN: The 1Malaysia People’s Housing Programme (PR1MA) will introduce a Rent-to-Own scheme for home buyers whose loan applications is rejected by banks.

Perbadanan PR1MA Malaysia chairman Tan Sri Dr Jamaludin Jarjis said the scheme will only be offered to buyers of houses under PR1MA projects who had applied to at least three banks.

"This is to help the people who really want to own a house under PR1Ma, but could not secure a bank loan.

"There are people who are maybe not highly educated, who do not earn income enough for them to secure bank loans, but that doesn't mean that they should be sidelined from getting a home for their families," he told reporters during a press conference here earlier today.

The groundbreaking ceremony for the project will be officiated by Prime Minister Datuk Seri Najib Razak later today.

On the project, Jamaludin said it will see 3,196 high-rise residential units built in three years.

The units will be offered in four variations in number of bedrooms and sizes.

It will be offered at an average of 20 per cent lower than the market price of similar sized properties in the surrounding area.

The Type A and Type A1 units will feature two-bedroom and a bathroom house in 825 sq ft and 804 sq ft sizes, respectively ; while the Type B and Type C will feature three-bedroom and two-bathroom house in 1,008 sq ft and 1,214 sq ft, respectively.

Jamaludin also said that PR1MA will also build 640 units of affordable terrace houses in Port Dickson soon.-- NST

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